Automotive chip developer Pride Silicon recently announced the completion of its pre-A round of financing worth tens of millions of CNY. This investment will be used in the R&D of Pride Silicon's chip products.
Recently, automotive chip developer Pride Silicon (Chinese: 傲芯科技) announced its completion of a pre-A round of financing worth tens of millions of CNY, exclusively invested by Xiaomi’s (Chinese: 小米) industrial investment affiliate. This is another investment Xiaomi made in the chip industry after the launch of the company’s automobile manufacturing plans last year. The fund will primarily be used in the R&D of Pride Silicon's chip products.
Founded in 2021, Pride Silicon is a company focusing on the R&D, sales and distribution of vehicle digital-analog hybrid chips with two rounds of financing accomplished under the support of Walden International (Chinese: 华登国际), Sunic Capital (Chinese: 临芯投资), Innoangel Fund (Chinese: 英诺天使) and Ofound (Chinese: 藕舫天使).
The core members of Pride Silicon mainly come from first-class semiconductor enterprises with rich experience in mass production of automotive-grade chips. In terms of R&D, Pride Silicon has had numerous successful tape-out trials. Ethernet transceiver products developed by the company have met industry-leading standards.
Walden International, which once led Pride Silicon’s angel-round investment, holds a optimistic viewpoint towards the company. Wang Lin, partner of Walden International, said, “Pride Silicon is one of the few companies in China with more than 10 years of R&D and mass production experience in high-end automotive chips.”
Changxu Sun, partner of Xiaomi's industrial investment affiliate, stated that they have firm belief in Pride Silicon with its capabilities to help increase localization rate for domestic NEVs and maintain supply chain safety, eventually increasing products' competitive level.